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Putin says US is a 'parasite' on global economy

By REUTERS

AUGUST 1, 2011 22:24

LAKE SELIGER, Russia - Russian Prime Minister Vladimir Putin accused the United States on Monday of living beyond its means "like a parasite" on the global economy and said dollar dominance was a threat to the financial markets.

"They are living beyond their means and shifting a part of the weight of their problems to the world economy," Putin told a Kremlin youth group while touring its summer camp north of Moscow.

"They are living like parasites off the global economy and their monopoly of the dollar."

US President Barack Obama announced a last-ditch deal to cut about $2.4 trillion from the US deficit over a decade, avoid a crushing debt default and stave off the risk that the nation's AAA credit rating would be downgraded.

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